Business

The Death the Mutual Fund: Matthew Murawski Explains Why ETFs May Be a Fit as Part of Your Investment Strategy

Published

3 years ago

November 9, 2022

Since the Great Depression, mutual funds have presented a great opportunity for everyday people to invest in the stock market. Rather than risking their fortune on individual winners and losers, investors selected groups of stocks, making them not only a more diversified investment but also more attainable to people who could not afford the high commission fees, in Murawski’s opinion.

And for decades, mutual fund investing has been touted as a smart, principled financial planning strategy. However, those days may soon be coming to an end. As Goodstein Wealth Management financial planner Matthew Murawski explains, a new generation of investors may usher in a new investment strategy.

“We have a big shift in demographics,” Murawski says. “The Baby Boomer advisor has almost all classic mutual funds. But now, an exchange-traded fund does the same basic principle, but they are typically a lot less expensive and are more transparent and tax efficient.”

One of the most important distinctions between mutual funds and ETFs are the costs associated with each. Although Murawski still uses a few mutual funds, most of his portfolio contains ETFs – for the simple reason that they are generally less expensive and more efficient in his opinion.

“There are zero trading costs for an ETF,” Murawski says. “I can buy the S&P 500 index ETF for about a .03 expense ratio and not pay a commission. I can buy it or sell it whenever I want. But if I buy the same thing in a mutual fund, I’m going to pay a $12, $14, $16 commission every time through our custodian, TD Ameritrade.”

With many Baby Boomer investors and advisors retiring, the guidance is beginning to shift toward a younger generation. And according to Murawski, new advisors and this new investing class are overwhelmingly choosing ETFs.

“I don’t know anybody under 40 buying mutual funds,” Murawski says. “If I said to a client under 40, we’re buying mutual funds in an account, a majority of them will ask, why aren’t we buying ETFs?”

This gradual transition from mutual funds to ETFs is being seen throughout the investment world. ETF.com has projected that in the near future, ETF assets will exceed mutual fund assets. And traditional mutual fund advisors are beginning to take notice. They are trying to adapt to the changes in the market, as well as changes in investment strategy, to maintain relevance with a new generation of investors.

“In my opinion, investors under 30 will never own mutual funds,” Murawski says. “It would be like selling them a Discman. It is almost out of style. So mutual fund companies are being forced to change and come out with ETF versions of the same mutual funds.”

Another way that mutual fund companies are able to adjust is by offering what they call clean shares – dramatically reducing the cost of buying mutual funds. These represent important changes in the way mutual fund companies compete with the emergence of ETFs.

“In my opinion, In the end, those that are not innovating are losing massive amounts of assets,” Murawski says. “The pandemic alone brought millions of new investors into the market. And I do not feel those investors are not going to buy mutual funds.”

In the end, it comes down to cost and performance – and many actively managed mutual funds are not outperforming their benchmarks enough to justify their cost. Instead, investors are choosing ETFs, which can give them nearly the exact same thing at a lower price.

“When you don’t outperform and you charge more, it’s problematic,” Murawski says. “In my opinion, mutual fund companies are either dying or they’re innovating and moving toward a different structure.”

Matthew Murawski is a financial planner with Goodstein Wealth Management. He provides personalized wealth management advice to the firm’s 401(k) clients as well as his own individual clients. Murawski educates investors to help them work towards being positioned for long-term financial growth.

To learn more about Murawski and Goodstein Wealth Management, visit www.goodsteinwm.com or connect on Facebook, Instagram, and Twitter.

Business

Derik Fay and the Quiet Rise of a Fintech Dynasty: How a Relentless Visionary is Redefining the Future of Payments

Published

5 days ago

October 17, 2025

Matthew Wiles

Long before the headlines, before the Forbes features, and well before he became a respected fixture in boardrooms across the country, Derik Fay was a kid from Westerly, Rhode Island with little more than grit and audacity. Now, with a strategic footprint spanning more than 40 companies—including holdings in media, construction, real estate, pharma, fitness, and fintech—Fay’s influence is as diversified as it is deliberate. And his most recent move may be his boldest yet: the acquisition and co-ownership of Tycoon Payments, a fintech venture poised to disrupt an industry built on middlemen and outdated rules.

Where many entrepreneurs chase headlines, Fay chases legacy.

Rebuilding the Foundation of Fintech

In the saturated space of payment processors, Fay didn’t just want another transactional brand. He saw a broken system—one that labeled too many businesses as “high-risk,” denied them access, and overcharged them into silence. Tycoon Payments, under his stewardship, is rewriting that narrative from the ground up.

Instead of the all-too-common “fake processor” model, where companies act as brokers rather than actual underwriters, Tycoon Payments is being engineered to own the rails—integrating direct banking partnerships, custom risk modeling, and flexible support for underserved industries.

“Disruption isn’t about being loud,” Fay said in a private strategy session with advisors. “It’s about fixing what’s been ignored for too long. I don’t chase waves—I build the coastline.”

Quiet Power, Strategic Depth

Now 46 years old, Fay has evolved from scrappy gym owner to an empire builder, founding 3F Management as a private equity and venture vehicle to scale fast-growth businesses with staying power. His portfolio includes names like Bare Knuckle Fighting Championships, BIGG Pharma, Results Roofing, FayMs Films, and SalonPlex—but also dozens of companies that never make headlines. That’s by design.

Where others seek followers, Fay builds founders. Where most celebrate their exits, Fay reinvests in people.

While he often deflects conversations around his personal wealth, analysts estimate his net worth to exceed $100 million, with some placing it comfortably over $250 million, based on exits, real estate holdings, and the trajectory of his current ventures.

Yet unlike others in his tax bracket, Fay still answers cold DMs. He mentors rising entrepreneurs without cameras rolling. And he shows up—not just with capital, but with conviction.

A Mogul Grounded in Real Life

Outside of business, Fay remains committed to his role as a father and partner. He shares two daughters, Sophia Elena Fay and Isabella Roslyn Fay, and has been in a relationship with Shandra Phillips since 2021. He’s known for keeping his personal life private, but those close to him speak of a man who brings the same intention to parenting as he does to scaling multimillion-dollar ventures—focused, present, and consistent.

His physical stature—standing at 6′1″—matches his professional gravitas, but what’s more striking is his ability to operate with both discipline and empathy. Fay’s reputation among founders and CEOs is not just one of capital deployment, but emotional intelligence. As one partner noted, “He’s the kind of guy who will break down your pitch—and rebuild your belief in yourself in the same breath.”

The Tycoon Blueprint

The playbook Fay is writing at Tycoon Payments doesn’t just threaten incumbents—it reinvents the infrastructure. This isn’t another “fintech startup” with a flashy brand and no backend. It’s a strategically positioned venture with real underwriting power, cross-border ambitions, and a founder who understands how to scale quietly until the entire industry has to take notice.

In an age where so many entrepreneurs rely on noise and virality to build influence, Fay remains a master of what can only be called elite stealth. He doesn’t need the spotlight. But his impact casts a long shadow.

Conclusion: The Empire Expands

From Rhode Island beginnings to venture boardrooms, from gym owner to fintech force, Derik Fay continues to build not just businesses—but a blueprint. One rooted in resilience, innovation, and long-term infrastructure.

Tycoon Payments may be the latest chess piece. But the game he’s playing is bigger than one move. It’s a long game of strategic leverage, intentional legacy, and generational wealth.

And Fay is not just playing it. He’s redefining the rules.